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 refinance zero moving cost 2025, refinance now with zero upfront cost !

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TSJanice Man P
post Feb 4 2025, 03:01 PM, updated 2d ago

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Joined: Feb 2022


Scenario:

Original Loan Amount: RM 500,000
Original Loan Term: 30 years
Original Interest Rate: 4.8%
Remaining Loan Term: 25 years (Assumed you has been paying for 5 years)
New Interest Rate (Refinanced): 4.15%
Refinancing Costs: RM 0 thumbsup.gif thumbup.gif

Let's compare the original loan with the refinanced loan to determine the savings.
there are no refinancing costs

1. Original Loan (Remaining Portion):

Remaining Loan Amount: Assuming approximately RM 460,000 remaining after 5 years.
[/I]This is an estimate and should be verified with the loan statement.[I]
Monthly Payment (Original): Approximately RM 2,650+-

2. Refinanced Loan: RM 460,000

New Loan Amount: RM 460,000 (Remaining balance - no added costs)
New Loan Term: 25 years (or the remaining original term)
New Interest Rate: 4.15%
Monthly Payment (Refinanced): Approximately RM 2,450 +-

3. Savings:

Monthly Payment Savings: RM 200 (RM 2,650 - RM 2,450) (Estimated)

total interest paid on the remaining portion of the original loan would have been RM 300,000+-,
and the total interest paid on the refinanced loan is RM 250,000+-

Total Interest Savings: RM 50,000 cool2.gif
Key Advantage (No Refinancing Costs):
cool2.gif

With no refinancing costs, Any reduction in interest rate will result in savings.
You immediately benefits from the lower monthly payment and the substantial long-term interest savings. icon_rolleyes.gif

contact Rachel 0193413915 now




kelvinfixx
post Feb 4 2025, 03:06 PM

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1,565 posts

Joined: Sep 2011
How about lawyer fees?
TSJanice Man P
post Feb 4 2025, 03:08 PM

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Joined: Feb 2022


QUOTE(kelvinfixx @ Feb 4 2025, 03:06 PM)
How about lawyer fees?
*
hi Kelvin, free moving cost included legal, stamp duty & valuation fees smile.gif
Nanti Sekejap
post Feb 4 2025, 03:42 PM

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Joined: Nov 2019


may I check whats the major tnc?
like newly signed loan can move also?
after move, need to lock for how long?
sunami
post Feb 4 2025, 03:54 PM

IGNORE is for SOHAIs
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1,480 posts

Joined: Jul 2006
is it full flexi or?
TSJanice Man P
post Feb 4 2025, 04:02 PM

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Probation
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Joined: Feb 2022


QUOTE(Nanti Sekejap @ Feb 4 2025, 03:42 PM)
may I check whats the major tnc?
like newly signed loan can move also?
after move, need to lock for how long?
*
hi, lock in period 5 years
MISMan
post Feb 6 2025, 04:00 PM

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Senior Member
704 posts

Joined: Apr 2009
From: KL


QUOTE(Janice Man @ Feb 4 2025, 03:01 PM)
Scenario:

Original Loan Amount: RM 500,000
Original Loan Term: 30 years
Original Interest Rate: 4.8%
Remaining Loan Term: 25 years (Assumed you has been paying for 5 years)
New Interest Rate (Refinanced): 4.15%
Refinancing Costs: RM 0 thumbsup.gif  thumbup.gif

Let's compare the original loan with the refinanced loan to determine the savings. 
there are no refinancing costs

1. Original Loan (Remaining Portion):

Remaining Loan Amount: Assuming approximately RM 460,000 remaining after 5 years.
[/I]This is an estimate and should be verified with the loan statement.[I]
Monthly Payment (Original): Approximately RM 2,650+-

2. Refinanced Loan: RM 460,000

New Loan Amount: RM 460,000 (Remaining balance - no added costs)
New Loan Term: 25 years (or the remaining original term)
New Interest Rate: 4.15%
Monthly Payment (Refinanced): Approximately RM 2,450 +-

3. Savings:

Monthly Payment Savings: RM 200 (RM 2,650 - RM 2,450) (Estimated)

total interest paid on the remaining portion of the original loan would have been RM 300,000+-,
and the total interest paid on the refinanced loan is RM 250,000+-

Total Interest Savings: RM 50,000  cool2.gif
Key Advantage (No Refinancing Costs):
  cool2.gif

With no refinancing costs, Any reduction in interest rate will result in savings. 
You immediately benefits from the lower monthly payment and the substantial long-term interest savings.  icon_rolleyes.gif

contact Rachel 0193413915 now
*
Hi,

Which bank? what int rate can get for a 480k prop?

pm pls

tq


 

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